JAKKS Pacific Aligns With MGA Entertainment To Produce Pet Products Based On The Bratz Property
MALIBU, Calif.--(BUSINESS WIRE)--Oct. 17, 2005--JAKKS Pacific, Inc. (Nasdaq:JAKK) has signed a licensing agreement with MGA Entertainment, INC. to develop and market products based on the top-selling girls Fashion Doll and entertainment property Bratz(R) for categories including pet toys, accessories, snacks, treats, bedding and apparel. The Bratz-licensed product line will be marketed by JAKKS' new pet division, JPI(TM), and is expected to ship to retailers nationwide in 2006.
Stephen Berman, President and COO, JAKKS Pacific, Inc., states, "From a retail perspective, the pet category continues to show explosive year-over-year growth. To further propel sales, we continue with our proven business strategy of applying the right licenses to the right products. Fashion trends are an important element in the pet category, and the Bratz property fits perfectly into the model of understanding first what children want for themselves and consequently, for their pets."
Isaac Larian, CEO of MGA Entertainment, adds, "Bratz has achieved tremendous awareness within the girls category in a short period of time with extensive entertainment and retail support combined with massive sales numbers to support it. We are constantly looking for new opportunities to push the brand to the next level and becoming a part of JAKKS' licensed pet program is a key next step."
JAKKS Pacific expects to begin shipping the new Bratz pet products in 2006 to mass markets, specialty stores and national pet retailers nationwide.
About MGA Entertainment
Headquartered in Van Nuys, California, MGA Entertainment is a leader in consumer entertainment products for children of all ages. The company creates and manufactures innovative lines of proprietary and licensed products, including toys and games, fashion dolls, consumer electronics, home decor, stationery and sporting goods. BRATZ, its proprietary fashion doll line, was introduced in June 2001, and has since become one of the world's premiere toy brands as well as girls' lifestyle brands. The BRATZ brand is also noted for having won Family Fun magazine's Toy of the Year Award four years in a row. Please visit: www.mgae.com
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and consumer products. The product categories include: Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls and Pet Toys and Accessories. The products are sold under various brand names including JAKKS Pacific(R), Play Along(R), Flying Colors(R), Road Champs(R), Child Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R), Go Fly a Kite(R), Color Workshop(R), JPI(TM) and Plug It In & Play TV Games(TM). JAKKS and THQ are the members of THQ/JAKKS Pacific LLC, which publishes and markets WWE wrestling video games. For further information, visit www.jakkspacific.com
This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.